Cardano's founder relies on blockchain technology to increase government transparency, promoting more optimal and efficient management.
During an interview on Yahoo Finance, Charles Hoskinson, founder of the Cardano network, said that blockchain technology has the ability to improve government management, by allowing the creation of more transparent and efficient government services.
Hoskinson compared the level of efficiency and effectiveness that governments can gain by adopting blockchain technology to the development of the iPhone.
In the interview, conducted by Yahoo Finance host and journalist Brian McGleenon, the Cardano founder and former Ethereum developer expressed his vision of a global society with “less friction, less fraud, less waste, less abuse, more transparency, and ultimately less consolidation of power,” thanks to blockchain technology.
As the foundation of the next generation of a more open and decentralized Internet, known as Web3, blockchain technology can completely transform legacy systems.
Hoskinson said that not only the financial system can be transformed with the innovation of new technologies, but also government systems and the social fabric.
Likewise, in addition to efficiency, the founder of Cardano also pointed out the potential that blockchain technology offers to make more interoperable governments each other. This, he said, will lead to a more open and less controlled society.
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In the economic sphere, Hoskinson noted that blockchain technology can help create a new structure that is more transparent and accessible to all.
On Twitter, McGleenon highlighted Hoskinson's vision of a financial system where tax revenues are open source. “Everyone can see where the money comes from, where it goes”, the Yahoo Finance host noted, quoting Hoskinson as saying.
Likewise, the founder of Cardano believes that the transparency and immutability it offers Blockchain technology can mitigate corruption and bad practices in government management.
In his view, decentralizing authority will lead to more trustworthy government agencies.
Hoskinson also noted that blockchain promises to secure voting in democracies and corporate decision-making, as well as contribute significantly to the development of scientific research and enable full traceability of products in supply chains, among other things.
Network Cardano is one of the most promising blockchain-based ecosystems in the crypto industry.
Although its development has been quite slow for many, the network is the first blockchain built with a scientific approach, which wants to be able to offer high speed, scalability and security to support the new generation of applications and projects that are built in the crypto world.
Continue reading: The Cardano network already has more than 1.000 projects in development
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